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Use PayPal? Sell on Etsy? Say hello to the 1099-K

Do you use PayPal? Sell on Etsy? If you do, say hello to the 1099-K! There are big changes ahead because the IRS and State governments don’t want you to forget about their share of your sales. All you handmade, creative, and craft business owners who: sell finished items, digital patterns, or services on places like Etsy, eBay, Ravelry, etc. …

End tax time panic, update your bookkeeping all year

Want to end tax time panic? It’s simple, update your bookkeeping weekly all year long. Tax time comes but once a year. So many handmade business owner scramble to do months worth of bookkeeping tasks to “hurry up” and get ready for tax time, in a relatively short amount of time – hating every second of it. Leaving the bookkeeping …

Form 1099-NEC & your handmade business

Form 1099-NEC is used to report non-employee compensation of $600 or more during the tax year (2020). Handmade business owners, if you paid more than $600 to someone that is NOT an employee, you could likely have to file a Form 1099-NEC. Tax season is here, and it means more than just getting YOUR income and expenses in order so …

Sales & Use Tax

How To fill out a Sales & Use Tax Return

Learning how to fill out a Sales & Use Tax Return can be a challenge for a handmade or creative business owner, well actually any sort of business owner. The second quarter just ended on June 30, so that means here in the U.S. many business owners need to complete and submit a Sales (& Use) Tax Return. NOTE:  Depending …

Sales Tax is totally overwhelming and often confusing for handmade and/or creative business owner.  And it's little wonder -   few understand (or even want to think about) the impact that the Supreme Court ruling that went into effect June 21, 2018 had on every business that sells on the internet. Here's the DIRTY lowdown on Sales Tax and it's impact on your creative biz.

Sales Tax-The DIRTY lowdown

Sales Tax-the DIRTY lowdown of how it impacts your handmade or creative business. Sales Tax is totally overwhelming and often confusing for handmade and/or creative business owners.  And it’s little wonder –   few understand (or even want to think about) the impact that the Supreme Court ruling that went into effect June 21, 2018 had on every business that sells …